With only $6m in the bank at end Dec-18 and an estimated spend of $3.6m in this Mar-19 quarter, they don't have enough in the kitty to get through to May-19. And that's including the oddly lower forecast for each line item compared to Dec qtr.
They'll need a CR just for working capital while they seek the extraordinary large amount of capital for project development. Explains why the wind has been knocked out of it: low cash, impending CR and massive CAPEX for only 17% IRR.
There are far better projects out there at the moment IMO. For MOP, I like HFR if they can get final approvals through. For SOP, well, there's only one - DNK.
With only $6m in the bank at end Dec-18 and an estimated spend...
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